Thursday, June 30, 2005

Fed Raises Interest Rates

CNN/Money and Fox News had a little different take on the increase of interest rates by the Federal Reserve. CNN/Money starts off with the facts of the increase. Fox is a little more positive in its outlook by starting with “As expected…” which seems, in my opinion, to reduce any potential alarm or at least surprise by stating that we knew this would happen. Fox even says that the decision “is part of a credit-tightening campaign to bring rates back up to more normal levels.”

CNN/Money says, “Thursday's quarter-point increase brings the federal funds rate, an overnight bank lending rate, to 3.25 percent, the highest level since shortly before the September 2001 terrorist attacks, up from 1 percent a year ago.” Fox takes a different take by saying that the rates were abnormally low: “When the Fed started boosting rates one year ago, the funds rate stood at 1 percent, the lowest level in 46 years.”

Links to the articles:

http://money.cnn.com/2005/06/30/news/economy/fed_rates

/index.htm?section=cnn_topstories

http://www.foxnews.com/story/0,2933,161234,00.html

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